Cryptocurrency prices continue to experience fluctuations, with Bitcoin recently witnessing a drop followed by a rapid recovery. As these events unfold in the market, analysts are offering their insights on altcoins. One analyst has shared his thoughts on three different altcoins.
Will RNDR Token Rise?
Altcoin Sherpa, a popular crypto analyst, remains optimistic about an AI-related altcoin called Render (RNDR), despite some warnings and question marks on his chart. In a statement to his thousands of followers, he stated that RNDR is the best AI choice in the current market cycle.
According to the project’s website, RNDR is the native token of the project and is currently trading at $10.78, a level that continues to attract investors.
Analyst’s Comments on Bittensor (TAO)
Altcoin Sherpa also provided his insights on Bittensor (TAO), a decentralized blockchain platform focused on machine learning and artificial intelligence. However, the analyst mentioned that the asset’s chart currently exhibits a “scary” structure.
At the time of writing, TAO is trading at $440.47, with a market value ranking of 39th among cryptocurrencies. It has experienced a drop of about 1% in the last 24 hours.
Analyst’s Comments on Wormhole (W)
Altcoin Sherpa also shared his thoughts on Wormhole (W), which is positioned as an inter-chain communication protocol. According to the analyst, the period when W’s price rose above the $0.72 resistance was merely a fake rally, and the price then dropped to $0.587.
At the time of writing, W has risen by 0.54% after surpassing the mentioned level, and it is currently trading at $0.6534.
Disclaimer: The information provided in this article should not be considered as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and should conduct their own research.
